Global US food processing company Archer Daniels Midland (ADM) is in talks to purchase French animal feed company Neovia in a deal worth up to $1.75bn.
The move highlights ADM’s ambitions of expanding its presence within the fast-growing animal nutrition sector, with a deal set to position ADM as a global market player.
“The acquisition of global leader Neovia would represent a transformative step for our Animal Nutrition business, and a major strategic investment in France,” said ADM Chairman and CEO Juan Luciano.
“We look forward to working with them to leverage their global presence, integrated value chain and world-class innovation to reach new markets and new customers together.”
Neovia employs 8,200 people, having recorded global sales of €1.7bn in 2017, largely driven by its presence in Western Europe.
If successful, the deal would mark ADM’s second largest acquisition to date, following the firm’s purchase of Wild Flavors for $3bn in 2014.